California and San Francisco are spending $86.5 million for a 160 room building for the homeless. Another $8.5 million will be spend on operating expenses. That’s a purchase price of over $540K per room and over $50K per room in operating costs. The city has over 8,000 people currently homeless.
What could possibly go wrong?
If you subsidize something the demand will go up. A $500K condo and $50K towards living costs? I’d bet they will get “homeless” people from all over the country, if not the world.
This has to be a deliberate destruction of wealth. No one can be that stupid and/or naïve.